South Dakota Administrative Rules
Title 12 - Department of Agriculture
Article 12:22 - Agribusiness bonding and lending programs
Chapter 12:22:02 - Value added agribusiness relending program
Section 12:22:02:12 - Review of financial status
Universal Citation: SD Admin Rules 12:22:02:12
Current through Register Vol. 51, page 43, September 23, 2024
After the VAFA and the agency approve the loan but before the loan agreement is entered into, the VAFA may conduct an overall review of the applicant's financial status. This review may include an analysis of all assets and liabilities and an analysis of the ability of the applicant to honor the loan commitments. If the applicant's financial condition has materially changed since the approval of the loan, the VAFA may disapprove the loan or modify the terms of the loan.
General Authority: SDCL 1-16E-24.
Law Implemented: SDCL 1-16E-8.
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